{"id":10151,"date":"2016-10-11T07:00:23","date_gmt":"2016-10-11T12:00:23","guid":{"rendered":"https:\/\/blog.qceventplanning.com\/?p=10151"},"modified":"2016-10-11T07:00:23","modified_gmt":"2016-10-11T12:00:23","slug":"4-questions-ask-building-business-plan","status":"publish","type":"post","link":"https:\/\/www.qceventplanning.com\/blog\/2016\/10\/4-questions-ask-building-business-plan","title":{"rendered":"4 Questions to Ask When Building Your Business Plan"},"content":{"rendered":"<p><i>QC tutor <a href=\"https:\/\/www.qceventplanning.com\/tutors\/regina-osgood\/\" target=\"_blank\" rel=\"noopener\">Regina Osgood<\/a> is the owner and creative director of <a href=\"http:\/\/meant2beevents.com\/\" target=\"_blank\" rel=\"noopener\">Meant2Be events<\/a>, a top Arizona wedding planning firm that manages over 250 weddings a year.<\/i><\/p>\n<p>So many \u201cprofessionals\u201d in this industry are successful almost by accident. Their talent, in spite of all their preparation or business management acumen, creates the perception of a brilliantly crafted career.   <\/p>\n<p>It\u2019s not hard to make that perception a reality, but it does take time and dedication. The first step is create a business plan.  Consider your business plan as the roadmap to your dreams, complete with fluffy clouds and rainbows that you can slide down! <\/p>\n<p>It doesn\u2019t need to be complicated. Here are four questions you can answer to get started\u2026<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.qceventplanning.com\/blog\/2016\/10\/4-questions-ask-building-business-plan\/#What_is_your_product_or_service\" >What is your product or service?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.qceventplanning.com\/blog\/2016\/10\/4-questions-ask-building-business-plan\/#Who_are_your_customers\" >Who are your customers?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.qceventplanning.com\/blog\/2016\/10\/4-questions-ask-building-business-plan\/#When_will_things_get_done\" >When will things get done?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.qceventplanning.com\/blog\/2016\/10\/4-questions-ask-building-business-plan\/#When_are_bills_due_and_when_do_you_get_paid\" >When are bills due and when do you get paid?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_your_product_or_service\"><\/span>What is your product or service?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"448\" src=\"https:\/\/blog.qceventplanning.com\/wp-content\/uploads\/2016\/10\/Event-Planner-Business-Model.jpg\" alt=\"event planning business model for event planning startup\" class=\"alignnone size-full wp-image-10159\" srcset=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2016\/10\/Event-Planner-Business-Model.jpg 672w, https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2016\/10\/Event-Planner-Business-Model-300x200.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/p>\n<p>Every company exists to create new value. That&#8217;s what customers are paying for. What do you do to earn your income? This is the place to really pinpoint the nuts and bolts of the services you want to provide to your clients. In the fancy version of a business plan the answers to this question would be considered your Executive Summary, About Our Product\/Service, and Company Description sections.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Who_are_your_customers\"><\/span>Who are your customers?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This is the one question I see wedding professionals really dilute the most. \u201cAnyone engaged\u201d is NOT a good <a href=\"https:\/\/blog.qceventplanning.com\/2016\/02\/getting-the-clients-you-really-want\/\" target=\"_blank\" rel=\"noopener\">client demographic<\/a>. Think on a micro level. This allows you to target your exact clientele by knowing what their age is, education level, where they shop, etc. If you want to flesh this out even further, you can create customer profiles and even customer personas with names and personalities. Marketing and selling to each type\/group will require different strategies and tactics. The first step, though, is to identify these groups.<\/p>\n<p>Once you know this, you can create a marketing strategy and understand who your competition might be. The snazzy versions of this info in your business plan are your  Market Analysis, Target Market, Primary (and Secondary) Markets, Marketing Strategy, Marketing Plan, Competitive Analysis\/Advantage, and Market Size sections.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"When_will_things_get_done\"><\/span>When will things get done?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"448\" src=\"https:\/\/blog.qceventplanning.com\/wp-content\/uploads\/2016\/10\/4-Questions-Regina-.jpg\" alt=\"create an event planning business plan with event planning academy\" class=\"alignnone size-full wp-image-10172\" srcset=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2016\/10\/4-Questions-Regina-.jpg 672w, https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2016\/10\/4-Questions-Regina--300x200.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/p>\n<p>This is when we get to the nitty-gritty. Write down concrete action steps and scheduled milestones. Now take it a step further and set three-year five-year goals. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"When_are_bills_due_and_when_do_you_get_paid\"><\/span>When are bills due and when do you get paid?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Identify all of your expenses. Write down all the things you might have to pay for while launching or running your business. All of your expenses will fall into three categories: fixed expenses, variable expenses, and capital expenses. <\/p>\n<p>And that\u2019s it! You have a solid foundation to your business and a great place to grow from! Don\u2019t forget to re-evaluate your plan yearly. It will grow and change just as you do!<\/p>\n<h3 align=\"center\"><i>Now that you\u2019ve got your business plan, you\u2019re ready to kick-start that event planning career! Just don\u2019t make any of these <a href=\"https:\/\/blog.qceventplanning.com\/2016\/09\/6-ways-not-start-career-wedding-planner\/\" target=\"_blank\" rel=\"noopener\">start-up mistakes<\/a>\u2026<\/i><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Wondering how to start your business plan? Keep these four things in mind. <\/p>\n","protected":false},"author":8,"featured_media":10160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,9,11],"tags":[],"ppma_author":[349],"class_list":["post-10151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-from-the-experts","category-career"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>4 Questions to Ask When Building Your Business Plan - Pointers for Planners<\/title>\n<meta name=\"description\" content=\"Need help creating an event planning business plan? 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